LONDON — German sportswear company Adidas has engaged an investment bank to consider the possible sale of its golf brands, which are struggling as the sport loses popularity, particularly in the United States, its biggest market.
Adidas made the announcement on Thursday as deteriorating golf sales overshadowed otherwise positive second-quarter results.
A spokesman said the firm was considering all options, including the possible sale of TaylorMade, the main golf business, or smaller brands Adams and Ashworth.
Adidas bought the TaylorMade brand in 1997 along with Salomon, developing it into the world's biggest golf supplier. It acquired the Ashworth brand in 2008 for $72.